Chicago, March 13, 2024 (GLOBE NEWSWIRE) -- Microbiome Diagnostics market in terms of revenue was estimated to be worth $146 million in 2023 and is poised to reach $300 million by 2028, growing at a CAGR of 15.5% from 2023 to 2028 according to a latest report published by MarketsandMarkets™. The microbiome diagnostics market is driven by a rise in the collaborative efforts between the microbiome industry and academia for microbiome research and the growing demand for personalized medicine.
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Microbiome Diagnostics Market Scope:
| Report Coverage | Details |
| Market Revenue in 2023 | $146 million |
| Estimated Value by 2028 | $300 million |
| Growth Rate | Poised to grow at a CAGR of 15.5% |
| Market Size Available for | 2022–2028 |
| Forecast Period | 2023–2028 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Technology, Sample, Application, End User, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Rest of the World |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunity | Increased collaboration of key players and small innovative companies to work on new microbiome technologies |
| Key Market Driver | Collaborative efforts between the microbiome industry and academia for microbiome research |
The incidence of chronic diseases across the globe has increased significantly. Microbiomes have major applications in the diagnosis of several chronic conditions, such as obesity and diabetes, and thus the prevalence of these conditions is expected to drive the demand for microbiome diagnostic products in the coming years. For instance, Globally, the number of patients suffering from diabetes is expected to grow from ∼537 million in 2021 to almost 783 million by 2045. (Source: International Diabetes Federation).
Based on products, the microbiome diagnostics market is segmented into reagents & kits and instruments. Reagents & kits accounted for the largest share of the market in 2022. The large share of this product segment can primarily be attributed to repeat purchases and consumption of reagents & kits for diagnostic procedures as compared to the instruments, which have a longer shelf time and can be used for multiple procedures.
The microbiome diagnostics market is segmented based on technology into 16s rRNA sequencing, shotgun metagenomics, metatranscriptomics and other technologies. 16s rRNA accounted for the largest share of the microbiome diagnostics market in 2022. The high accuracy and affordability offered by 16S rRNA sequencing, and the growing number of microbiomic research activities to identify and classify various bacterial strains are driving the growth of the segment.
Based on samples, the microbiome diagnostics market is segmented into fecal, saliva, skin and other samples. In 2022, feces accounted for the largest share of the microbiome-based diagnostics market. This segment is also projected to register the highest CAGR during the forecast period, owing to the rising prevalence of disease and increasing microbiome research activities.
Based on applications, the microbiome diagnostics market is segmented into research applications, disease diagnostic applications. In 2022, the disease diagnostic application segment accounted for the largest share of the microbiome-based diagnostics market. The large share of this segment is due to the increasing prevalence of diseases, the increasing collaboration of industrial players and academic institutes to develop microbiome diagnostics.
Based on end users, the microbiome diagnostics market is segmented into hospitals, research institutes, pharmaceutical & biotechnology companies and other end users. Hospitals accounted for largest share of the microbiome diagnostics market in 2022. The significant share of the segment is primarily due to the rising prevalence of diseases.
The microbiome diagnostics market is segmented into four major regions: North America, Europe, the Asia Pacific, and Rest. The Asia Pacific market is estimated to grow at the highest CAGR during the forecast period, owing to the demand for better healthcare services, and the rising prevalence of chronic.
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Microbiome Diagnostics market major players covered in the report, such as:
- DNA Genotek (Canada)
- Invivo Healthcare (UK)
- Microba Life Sciences (US)
- Genetic Analysis AS (Norway)
- Metabiomics (US)
- Teraomics (US)
- Becton, Dickinson and Company (US)
- BioMe Oxford Ltd (UK)
- Viennalab Diagnostics (Austria)
- Viome Life Sciences, Inc. (US)
- Luxia Scientific (France)
- DayTwo (US)
- Sun Genomics (US)
- Atlas Biomed (UK)
- Quantbiome, Inc. (US)
- GoodGut (US)
- Micronoma (US)
- FlightPath Biosciences (US)
- Microbiome Research Pvt.Ltd. (India)
- and Among Others
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This report categorizes the microbiome diagnostics market into the following segments and subsegments:
By Product
- Reagents & Kits
- Instruments
By Technology
- 16S rRNA Sequencing
- Shot Gun Metagenomics
- Metatranscriptomics
- Other Technology
By Sample
- Faces
- Saliva
- Skin
- Other Sample
By Application
- Disease Diagnostics Application
- Gastrointestinal Disorders
- Metabolic Diseases
- Other Application
- Research Application
By End User
- Hospitals
- Academic and Research Institutes
- Biotechnology and Pharmaceutical Companies
By Region
- North America
- US
- Canada
- Europe
- Germany
- UK
- France
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- Rest of the World
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Key Market Stakeholders:
- Manufacturers and distributors of microbiome-based diagnostics products
- Pharmaceutical and Biotechnology Companies
- R & D centers
- Diagnostic laboratories
- Hospitals and clinics
- Academic institutes
- Research institutes
- Market research and consulting firms
Report Objectives:
- To define, describe, segment, and forecast the global microbiome diagnostics market by product, sample, application, end user and region.
- To provide detailed information regarding the major factors influencing the market growth (such as drivers, restraints, opportunities, challenges, and trends)
- To analyze the micromarkets1 with respect to individual growth trends, prospects, and contributions to the overall microbiome diagnostics market
- To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
- To forecast the size of the market segments with respect to four regions, namely, North America, Europe, the Asia Pacific, and the Rest of the World
- To profile the key players and comprehensively analyze their product portfolios, market positions, and core competencies2
- To benchmark players within the market using the proprietary Competitive Leadership Mapping framework, which analyzes market players on various parameters within the broad categories of business and product excellence
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